Direct taxes rise 21% to Rs 4.62 trn in FY25
Corporation Tax (CIT) at Rs1.14 lakh cr and Personal Income-Tax (PIT) at Rs34,470 cr
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New Delhi: Net direct tax collection grew 21 per cent to Rs4.62 lakh crore so far this fiscal on higher advance tax mop-up, the Income-Tax (I-T) department said on Tuesday.
The first installment of advance tax, which was due on June 15, showed collections rose 27.34 per cent to Rs1.48 lakh crore. This includes Corporation Tax (CIT) at Rs1.14 lakh crore and Personal Income Tax (PIT) at Rs34,470 crore.
The net direct tax collection of Rs4,62,664 crore (as of June 17, 2024) includes CIT at Rs1,80,949 crore and PIT (including Securities Transaction Tax) at Rs2,81,013 crore, the Central Board of Direct Taxes (CBDT) said in a statement.
Refunds amounting to Rs53,322 crore have also been issued in the FY 2024-25 till June 17, 34 per cent higher than refunds issued during the same period in the preceding year.
